Part of a package of three bills to establish governance arrangements for Commonwealth superannuation schemes, the bill establishes ComSuper as a statutory body and provides for: the terms and conditions of employment, functions and powers of the Chief Executive Officer; staff and consultants; and finance and reporting requirements.

in relation to the: Australian Competition and Consumer Commission’s (ACCC) consideration of acquisitions in local markets (including creeping acquisitions); ACCC’S consideration of multiple markets when assessing mergers; and reform of the prohibition on anti-competitive mergers and acquisitions;

Australian Securities and Investments Commission Act 2001

and

Competition and Consumer Act 2010

, in response to recommendations of the Senate Economics Legislation Committee, to: insert a statement of interpretative principles into the unconscionable conduct provisions; and provide that the statutory concept of unconscionable conduct is consistently applied to both consumers and businesses; and

to: prohibit the private disclosure of pricing information to a competitor; prohibit disclosure of that or other information if the disclosure is made to substantially lessen competition; provide that the prohibitions only apply to goods and services prescribed by regulations; provide exceptions to the prohibitions; and extend existing authorisation and notification regimes to enable businesses to obtain immunity from the Australian Competition and Consumer Commission from the prohibitions where a public net benefit results.

in relation to exemptions from HDTV obligations in solus television markets;

Broadcasting Services Act 1992

in relation to: introduction of a third service in two-service television markets which overlap with a remote licence area; and delegation of power to approve variations to approved digital broadcasting implementation plans for national broadcasters;

Radiocommunications Act 1992

in relation to transmission of datacasting services; and

Telecommunications Act 1997

to provide for a penalty in lieu of prosecution scheme for certain offences.